Summer services update
| Decision | Consent Approved Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Toitū Te Whenua LINZ |
| Decision Date | 01 July 2022 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | Acquisition of a freehold interest in 421.5712 ha at 1043 Breakneck Road, Tuapeka, Clutha District |
| Consideration | $4,100,000 |
| Applicant | Corisol New Zealand Limited Switzerland (100%) |
| Vendor | Nathan James Joyce & Julie Louise Joyce New Zealand (100%) |
| Background | The Applicant applied for consent under the special test relating to forestry activities set out in section 16A(4) of the Act. The Land is used primarily as a beef and sheep farm. The Applicant intends to convert the Land to forestry, establishing and maintaining approximately 310 hectares of forest of Pinus radiata. The forestry investment will be managed by the Applicant, through its directors and management team. The Land contains 73 hectares of unprotected native bush, that the Applicant intends and is required to retain. The remaining land will comprise of infrastructure, native plantings, various setbacks and 31 hectares to be subdivided and sold. The Land is a combination of LUC Class 3 (approx. 11 hectares), LUC Class 4 (approx. 169 hectares) and LUC Class 6 (approx. 242 hectares). |
| More information | Ranui Calman Greenwood Roche (Christchurch) P O Box 139 Christchurch 8140 |
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